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Check 'n Go Review

You never know when you'll need money in a hurry. A flat tire, a trip to urgent care, or a household bill that's higher than expected can quickly send your budget into a tailspin—and if you're one of the 66 million Americans who doesn't have an emergency fund, you may not have enough cash to cover those unforeseen expenses.

It's a stressful situation to be in, and "fast cash, payday" services like Check 'n Go—which offer options for refilling your bank account in a hurry, including payday loans, check-cashing, and prepaid debit cards, as well as 1,000 locations throughout the U.S.—may seem like the quickest, easiest solution.

As with any financial product, it's important to fully understand how these payday lending, get-cash-when-you-need-it offers works, the benefits and disadvantages of such services, and what fees you may incur (like those dreaded late payments).

Want to know more about Check 'n Go? Read on to make an informed decision about whether Check 'n Go is the right financial solution for you.

Interested in Check 'n Go?

Here's everything you need to know. Start at the beginning, or jump to a section to get your questions answered:

About Check 'n Go

hands exchanging money illustration

Check 'n Go, which was founded in Covington, Kentucky in 1994, is designed for those who need to borrow money within minutes. The company is a member of the Community Financial Services Association (CFSA), which sets ethical practice guidelines for short-term lenders.

Check 'n Go offers a variety of options to help you through a financial emergency:

Payday loans: Short-term loans that provide you with enough money—usually a few hundred dollars—to make it to your next payday without worrying about overdraft fees, late charges, or utility shutoffs

Installment loans: These let you borrow more money over time, and put you on a fixed payment schedule

Cash advances: Short-term, unsecured loans that let you receive funds from your next paycheck when you're facing a temporary budget jam

Check cashing: Quickly cash checks for a small fee

"NetSpend" Prepaid MasterCard: Get access to money quicker than waiting for a paper check, so you can use it whenever you need it

A unique aspect of Check 'n Go's offerings is its Extended Payment Plan (EPP). Without it, you may wind up needing to take out more loans to cover the cost of the initial loan if you cannot pay the balance of the original loan back in time. This can cause a spiral effect of relying on loans to get by, and paying exorbitant amounts of money in interest and other fees that far exceed how much money you needed in the first place.

How does Check 'n Go work?

Whether you need money to hold you over until your next paycheck or a check cashed, Check 'n Go promises to help. The company bills itself as a one-stop shop for all of your fast cash needs.

Applying for the service you need is fairly straightforward and typically require the following: id, bank account and proof of income to apply

  • A form of identification (driver's license or Social Security card)
  • Information about your bank account (account number and routing number)
  • Proof of income (paycheck stub)

Different solutions require different qualifications; some—like installment loans—require a credit check.

Once approved, the funds are deposited into your account as soon as the next business day. The company emphasizes that you will be made aware of when your payments are due, how much the balance is, the interest rate, and when the full amount must be paid off.

Check 'n Go charges a fixed interest rate for payday loans and cash advances based on state, and annual percentage rates can vary from 285.16% to 1,520.83% (Utah). For example, the APR for a $450 payday loan in Michigan is 347.33%; in Kansas, it's 391.07%; and in Texas, it's 661.75%.

Check 'n Go can be useful if...

You need to cash a paycheck and don't have the full amount in your checking account

Get cash quick even if the amount exceeds your bank account balance.

You have poor credit and need quick cash

Payday loan companies typically aren't as stringent about your credit rating, although Check 'n Go says it does check a customer's credit rating for installment loans.

Check n Go meter

You know you will be able to pay back the amount by the deadline

Consumers who read the paperwork and ask questions, so they fully understand their payback responsibilities have been able to pay back their loans without a problem.

Comments one consumer:

I have used the service a couple of times and did not have a problem. They were very courteous and helpful. I did actually READ all of the paperwork, and the staff also explained it. Since I realize that places like these are only a TEMPORARY solution, and I knew I had no DOUBT that I could pay the loan as required, I had a very positive experience.

You want to utilize a reputable payday loan provider

CFSA logo

Check 'n Go is a member of the Community Financial Services Association of America (CFSA), which is a national organization dedicated to responsible payday lending industry regulation.

This means members must make it easy for their customers to understand the interest rates, terms, and fees associated with services.

As such, they claim to be very open about disclosing interest rates. The Check 'n Go website does address the state-based regulations that govern payday loans.

You'll pay a one-time, flat fee per check you cash

This is often less than a bank's standard overdraft fee, though it can be a percentage of the check amount. By comparison, Walmart's cash-checking service charges 3% for checks up to $1,000, and 6% for checks up to $5,000. If you pay 3% on a $1,000 check, you're paying $30 extra to get your $1,000 check.

Reports show that Check 'n Go charges up to 3% of the check amount to cash a check. That means families earning the median household income earnings of $50,221, and who cash their checks at a rate of 3% per check, pay $1,506.63 a year to get their money. Ouch!

You manage your spending

Check 'n Go's prepaid debit cards hold the amount of money that you deposit, cannot be overdrawn, and are accepted just about everywhere.

You won't pay interest on the money that you put on the card, but you will pay an initial fee and deposit fee that's usually less than the overdraft or late fees associated with some credit card accounts.

Prepaid debit cards do not link to any other accounts, do not affect your credit, and can protect you from identity theft.

Drawbacks of using Check 'n Go

There are some disadvantages that consumers report about Check 'n Go, including high rates, restrictions, and poor customer service—all things you want to stay away from, especially if you're already in a money rut. Which is why we dug in:

You will pay a high-interest rate on these loans

Average APR for Check n Go is 390%

The nationwide APR average for Check 'n Go payday loans is about 390%. (Not a typo!) If you take a loan of $150, you will be paying back approximately $172 and change if you pay it on time. If not, you could wind up paying nearly four times that amount—or more if you delay paying the balance.

In Texas, a $750 loan would carry a $190.38 finance charge. That's a fee equal to 25% of the amount financed, plus interest paid to the unaffiliated lender, and the fee remains the same whether the loan is delivered online or in-store. If the loan is repaid within 14 days, the APR would be 661.78%. However, if it is repaid within 30 days, the APR would be 314.16%.

minimum and maximum loan amounts The minimum loan you may take when purchasing online is $100, while it is $50 in-store. The maximum loan amount is $1,500 regardless of where the purchase is made.

Studies show that the average borrower will take out eight loans worth $375 over their lifetime. If one of those is with Check 'n Go at its current interest rate, that means he/she will $520 on interest for each one by the time the initial loan balance is paid off. If you pay off all of those eight loans the same way, that equates to paying $7,160—just to get the original loan amount of $3,000.

You may not be able to use this service

Check n Go eligibility screenshot

Some states do not allow payday loans regardless of lender, but Check 'n Go does provide information about each state's requirements on its website, including this list of where they do currently offer online payday loans:

  • Alabama
  • California
  • Florida
  • Hawaii
  • Illinois
  • Indiana
  • Kansas
  • Maine
  • Michigan
  • Mississippi
  • Missouri
  • Nevada
  • North Dakota
  • Ohio
  • Oklahoma
  • Texas
  • Utah

It provides other financial solutions in additional states. Check the corporate website for the most up-to-date information.

You may not be able to pay an amount above the payment amount—even if you have the money at the time

According to reviews on ConsumerAffairs, the company would not take a payment for more than the amount that was due.

Explains one customer:

I got a loan at Check 'n Go. But if I knew what I know now, I would not have gotten one. The representative bugs you before your payment is due. If you try to pay extra, she won't take your money unless it's the amount she wants...This is the worst company to borrow money from. Their interest rate is ridiculous. Even if you want to cash checks, they charge way too much.

It may be frustrating not to be able to make payments when you have the money, and want to pay off the loan in a lump sum. But the Check 'n Go website says that people can pay off loans early and may get an interest rebate for doing so.

You may notice errors

Several customers contend that they made payments on time, but the company made errors with their accounts, or wound up taking too much money out of their accounts, so the customer incurred overdraft fees. Some people report duplicate deductions or withdrawals from their accounts on a day that was not expected or agreed upon.

In an online review, one consumer wrote:

Check 'n Go drafted my payment before the due date. They acknowledged the error but cannot explain how and when they will refund my overdraft fees as well as one day's interest. What is annoying about the situation is they could care less.

You may not be able to access locations

Many consumers report that the locations were not open during operating hours indicated on the website or otherwise advertised.

You may not be able to change the loan terms if your income schedule changes

Some customers had changes to their payroll schedule and were forced to refinance their loans, accruing an additional fee.

You may damage your credit

A review on ConsumerAffairs said that the company checked the borrower's credit every time he/she applied for a payday loan. The credit check was made by Check 'n Go, or Axcess Financial Services. According to the borrower, that dinged his/her credit and he/she stopped using the service.

Read about it in his own words:

I could understand why they would check my credit if I was seeking an installment loan, but in the last year and a half, I've only relied on Check 'n Go for payday loans. When checking my credit records today I discovered that Check 'n Go, or Axcess Financial Services, has performed a hard check on my credit every time I've turned to them for a payday loan. This translates to a ding on my credit and makes me look like I'm desperate for credit. This is simply unacceptable and I will no longer rely on them for this particular service.

Overall, there are benefits and disadvantages to using this service provider. When you need quick cash, they can likely provide it. On the other hand, you may need to watch your credit report and bank statements regularly to ensure all transactions are correct. Customers will need to decide if Check 'n Go is right for their specific needs and situations.

Again, not fully investigating the company and its policies could wind up causing you to spend more money and time paying off excessive fees. In the case they damage your credit, you could be left with financial problems long after you are able to pay off the loan.

What services does Check 'n Go offer?

list and icons of Check n Go services

When you're in a financial pinch and you need money quickly, a payday loan, installment loan, or cash advance can help you get through a tough time. Check 'n Go also provides check-cashing services so you can access funds swiftly.

  • dollar icon

    1. Payday loans

    These loans provide you with the money you need to make it to your next payday. They can prevent overdraft fees and credit card charges, and ensure your bills are paid on time. The money can be deposited into your account as soon as the next day.

  • dollar sign and clock icon

    2. Installment loans

    This type of loan lets you borrow more money over time, and puts you on a fixed payment schedule. Check 'n Go offers a few options as to how much money you can borrow, how much payments will be, and how many payments you will need to make. The money can be deposited into your account as soon as the next day.

  • dollar sign and calendar icon

    3. Cash advances

    Temporary budget jam? A cash advance is a short-term, unsecured loan of up to $1,500 that lets you receive funds from your next paycheck. Upon applying online, Check 'n Go lets you know how much money you can get. Once approved, you can use the money to pay off what you need to. When the cash advance is due, typically on your next payday, clients pay Check 'n Go back the full amount along with a fee.

  • check graphic icon

    4. Check cashing

    Convenient locations throughout the United States enable you to cash checks in an instant. You simply pay a one-time flat fee that is disclosed before you use the service. In many cases, the cost to cash a check is less than the cost of a bank's standard overdraft fee.

    This service is currently available in Ohio, Florida, Kansas, Kentucky, Michigan, Missouri, Tennessee, and Texas. Check 'n Go states on its website that more states will be offering this service soon.

  • credit card icon

    5. NetSpend Prepaid MasterCard cards

    This prepaid credit card gives you quick access to extra funds whenever you need it, and can be linked to your bank accounts so paychecks are deposited quickly. Because prepaid debit cards only hold the amount that you deposit, they cannot be overdrawn, so you won't pay extra fees or interest like a regular credit card. Just pay an initial and deposit fee—typically less than you'd pay for a credit card overdraft or late fee—and you're on your way.

    The card doesn't affect your credit, and using it can protect you from identity theft. This service isn't about getting quick cash but rather gives you a secure way to spend.

In summary, Check 'n Go offers several financial solutions into its popular payday loans. Not all of these are interest-accruing but all include paying extra for the service, whether that is via fee or interest.

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Who is eligible for Check 'n Go's services?

Check N Go network icons

Anyone may be eligible for a payday loan, installment loan, or cash advance from Check 'n Go—you need only apply. Check cashing and NetSpend Prepaid MasterCard cards are available to all.

It is typically easier to get a loan through this type of company compared to getting a personal loan from a bank. This is because the company charges such a high interest rate that covers its bottom line—and more, if you accrue additional interest by missing payments.

Keep in mind that there are strict requirements to paying back a payday loan, installment loan, or cash advance. If you are not sure whether you will have the money on time, you still may be eligible, but could wind up digging yourself into further debt by missing deadlines.

  • Person icon

    In-person loan requirements

    A review on Advisory HQ detailed the requirements for Check 'n Go's payday loans. According to the site, prospective borrowers need the following for an in-store loan:

    • A verified source of income
    • A working phone and phone number
    • A checking account that is active
    • Proof that you are of legal age in your state
    • No unpaid payday loans with Check 'n Go
    • Ability to meet your specific state's guidelines
    • Proof of income (generally done with a pay stub, but other forms like bank statements and tax returns are accepted)
    • A valid check that can be post-dated
    • A valid government issued ID, driver's license, or other ID
  • laptop icon

    Online loan requirements

    To qualify for an online payday loan from Check 'n Go's website, you will need the following:

    • A verifiable source of income
    • An active checking account that will allow your loan to be directly deposited
    • An email address that is active
    • Proof that you are of legal age in your state
    • No unpaid payday loans with Check 'n Go
    • Being able to meet the specific state's guidelines (found on the Check 'n Go)

    The review says that some borrowers may qualify for an online payday loan without having to fax in documents; they can be approved by confirming their email address and phone number. Check 'n Go notes that you may need to fax documents (hello, 1990!). Note that if you have to fax documents in, you may also need:

    • Your pay stub within the last 30 days or another proof of income
    • Your most recent bank statement within the last 30 days
    • Any further documents necessary by state law for an online payday loan

    If your application is approved by 8:00 p.m. EST, your approved amount should be deposited the next business day.

If you are unsure whether you qualify, visit Check 'n Go's FAQ page for more information.

Check n Go FAQ screenshot

Overall, the company is open online about its commitment to sound best practices and has detailed its practices online. The best way to see if you qualify is to visit the company's website or contact them directly.

Is Check 'n Go legit?

The company is established and has been in business since 1994. While the company is deemed legitimate, consumers and employees have many complaints about some business practices.

What employees say

Employees or ex-employees have mixed reviews about working there, which can give consumers insight as to what they can expect when using the services. Some former and current employees report on that they liked being able to help people out of a financial bind:

I love how I am able to help customers in need and be a part of their solution.

Check n Go 2.8 out of 5 stars

Others say there was too much pressure to make required sales, understaffed locations, and high turnover. The company got 2.8 out of 5 stars.

Former employees reported on that there was inadequate training, extensive work hours, and poor prospects for obtaining a promotion:

unhappy employee quote

What the company says

Check 'n Go is a founding member of the Community Financial Services Association, which promotes responsible lending practices and monitors consumer protection.

The company says on its website that there are more than 961 locations throughout the United States. The website and contact information found online does make it possible for customers to reach the company:

83.5% negative feedback on BBB

While Check 'n Go is not accredited by the Better Business Bureau (BBB), you can find details about it on the BBB website, including a look through their 83.5% negative ratings.

There are several ways to contact the company, which does have a long record of being in service. The Internet also has a variety of resources so consumers can learn about what it is like to use Check 'n Go.

Is Check 'n Go reliable?

Check 'n Go is an established business with locations throughout the United States. According to customer reviews online, however, the verdict is mixed.

Some customers report on ConsumerAffairs that the company got them the money they needed on time and made repayment deductions from their bank accounts on time. Others say the company erroneously took out money from their accounts—sometimes duplicate amounts—which resulted in bounced checks and overdraft fees.

It does seem that most consumers complain about repayment issues more than the process of getting the money they needed.

Wrote one customer in an online review:

Spoke with an associate on 07/16/15 to set up payment of $179 on the 31st of July. Payment was set up and agreed upon. To my surprise on the 17th of July some sort of electronic check was posted to my account in the amount of $307 dated for the 16th the day I spoke with them seriously making my account overdrawn. I called them and was treated very rudely and told that they did not know that transaction was set to post. Do not deal with this company. I had to close my checking account and open a new one to prevent this and I will now pay via money order.

Prospective customers may want to browse online to learn more about the conflicts that past customers have had with the company.

Where does Check 'n Go shine?

Transparency

One of the most common complaints about using a payday loan service is that borrowers claim they didn't know how much interest they were paying on the loan they took out. Upon discovering how much extra money is owed, borrowers may not be able to make the payments and could default on the loan.

Money plus percentage questions Because Check 'n Go is a direct lender, most consumers—so long as they have adequately reviewed all correspondence and loan material prior to accepting the monies—know what they are getting into. Rates and fees by state and by

product/service are clearly outlined on Check 'n Go's website.

The company also urges consumers to consider a loan provider's security measures, citing its advanced online security and encryption measures, as well as its utilization and compliance with VeriSign, which specializes in secure online transactions.

Money when you need it—safely

money stopwatch illustration

What also helps Check 'n Go stand apart is its quick service, hence its name. You can be sure that your loans will be deposited quickly and without any hidden fees, since everything is explained up front. Customers also have access to multiple credit services, and may choose to purchase either online or in a store. And because Check 'n Go is a direct lender, you can be sure your information is safe and is not being shared with any outside partners.

Protection when you need it

Due to its involvement with the Community Financial Services Association (CFSA), Check 'n Go may be able to offer customers a competitive advantage—and peace of mind—compared to using similar providers. Because Check 'n Go is part of the Community Financial Services Association (CFSA), they are required to offer an Extended Payment Plan (EPP) to consumers. Other payday loan companies may not offer this if borrowers get into a jam.

According to Thomas Fox, community outreach director for Cambridge Credit Counseling, many borrowers get trapped in payday loans, requiring them to take out more loans to cover the cost the original one. In fact, studies show that only 14% of payday loan borrowers can afford to repay the average payday loan.

To qualify for an EPP with Check 'n Go, consumers must apply for it on the last business day before the loan is due, and they must sign a new agreement.

Where does Check 'n Go fall short?

If you go online to research Check 'n Go, you'll find plenty of reports about the disadvantages of using the company. In fact, Consumer Affairs gives it a 1-star rating out of 5.

Even though it's a member of the Community Financial Services Association (CFSA), which promises more ethical best practices than similar companies, many consumers complained about the following on ConsumerAffairs:

  • interest hike icon

    High-interest rates

    Remember that range of interest rates—anywhere from 285.16% to 1,520.83%? Well, yes—there were lots of complaints about them. One customer who took out a $5,000 payday loan with a payment of $353, stated:

    I was told the loan was simple interest and I could pay it off at any time or renew at a lower payment without paying it off. I did not want the $5,000 loan because the payments were too high, but the sales person told me I could refinance the loan at a smaller payment, so I decided to do it. When I went in to refinance after the 6th payment I was told that I had to put down 1/3 of the balance to principal!!! I said, "That is not what I was told and there is nothing in my contract that states that." I have also learned that this is not a simple interest loan. It is computed so they add the interest onto the principal, and almost nothing from my payments is going to the principal. I have been paying since last year and my balance is only $100 less.

  • thumbs down icon

    Poor customer service

    Some customers report arguments and discrepancies with staff members over repayment schedules and deductions.

    In an online review, one consumer stated:

    I visited Check N' Go located on Magnolia and Banbury Drive and I waited there for 40 minutes. I came to get a loan and there was someone ahead with of me. I understood waiting for him. But then when it was my turn the employee started multitasking trying to help me and other people. This made my wait even longer. Instead of just taking care of me and getting me out of there, everyone who came after me was leaving before me. I was so upset.

  • dollar question mark icon

    Inaccurate deductions

    Some reviews say that the company made deductions from their banking accounts when they were not authorized, or when the amount could not be covered by the balance. When deductions are made inaccurately, it can result in overdraft charges and cause a cascade effect for the borrower of other bills not getting paid on time, which can result in more fees.

  • text magnifying glass icon

    Incomplete disclosures about loan terms

    Many consumers allege that they were not told about the interest rate, payment plan expectations, and payment deadlines.

    A consumer wrote online:

    I called Check 'n Go as I do each month to make my on-time payment. So once the payment was made I asked the girl what was my payoff amount and she told me that she could give me the amount as of today because even if you pay on time interest is added daily not monthly, but daily. This is highway robbery for people that's already having a hard time.

  • laptop checkmark icon

    Website functionality

    Some customer complaints include inaccuracies on Check 'n Go's website, mostly in regard to application processing:

    I went into the store and asked about applying online and they said that people are usually approved by 11 am the next morning. When I looked online, the website stated that if I applied by 7 p.m. EST I would be verified the next business day. I applied on Wednesday at 5 p.m. EST. I checked on Thursday morning and my application was still pending verification. I called later that day at 5 p.m. and the rep tells me that it usually takes 24-48 hours to verify the online app. So I waited until Friday morning around 12 p.m. EST and my app was still pending. I called customer service again and this time they tell me it takes 24-48 business hours to approve an app. That means it takes 3 to 6 business days. I received three different answers by three different people at the same company. Not to mention that the website clearly states that your application would be verified by the next business day. If you are looking for quick cash, do not look here. Apply in the store for a quick approval.

Overall, consumers need to fully understand the terms of their service and loans and the strengths—and weaknesses—of the lender they choose. Asking questions and reading all of the paperwork can go a long way to making sure you know what you are getting.

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Customer Reviews

Those who favor Check 'n Go appreciate its transparency and quick access to cash when they needed it. Check n Go positive review

Borrowed money 9 months ago and did not have any problems at all. Customer service couldn't have been nicer. They call each month to remind me that my payment will be withdrawn in 2 days. No one has bothered me or harassed me at all. They were above board with all my contracts and I knew from the start what my payment amount, interest rate and any fees were going to be. I will definitely consider doing business with Check N Go again.

No one likes the fees and high-interest rates

The chief complaint with Check 'n Go (and others like it) is the high interest rate associated with the loans—the percentage can be reach into the hundreds—and the fees associated with check-cashing and prepaid credit cards. According to one customer, "Even if you want to cash checks, they charge way too much."

Here's how Check 'n Go is ranked amongst other lenders for its check-cashing fees:

  • Regions: 1.5% and 3% of the check amount, with a minimum fee of $3
  • KeyCorp: 1% of the check amount
  • U.S. Bank: $10
  • Walmart: $3 for checks of $1,000 or less, $6 for check amounts of $1,001-$5,000
  • Ace Cash Express: 3% of the check amount
  • Check 'n Go: Up to 3% of the check amount

The devil is in the details, say some users

Despite being told that the company fully discloses all details, some customers have said in reviews that the company never made them aware of how much they would owe, or when it would be due.

One customer wrote in an online review:

A while back they offered me an installment plan. I took the installment loan and there had been no problems until my pay days changed at work. My work was bought out by another company. I was on an every other Friday direct deposit. The new company changed out pay dates to the 7th and 22nd of each month. I assumed since my loan was set around my pay dates, I would be able to call and change this. I even got a supervisor on the phone. They said it is contractual and they cannot change my dates. To me, this just seems wrong. I had no control over my work changing my dates. This is going to cost me a lot of overdrafts and return fees. I do not want to have to close my account and open another one. I do not know what else to do. It seems to me it would work best for them as well to just change my dates.

Similar complaints abound:

I got a loan at Check 'n Go. But if I knew what I know now, I would not have gotten one. The representative bugs you before your payment is due. If you try to pay extra, she won't take your money unless it's the amount she wants... This is the worst company to borrow money from. Their interest rate is ridiculous. Even if you want to cash checks, they charge way too much.

I was told the loan was simple interest and I could pay it off at any time or renew at a lower payment without paying it off. I did not want the $5,000 loan because the payments were too high, but the sales person told me I could refinance the loan at a smaller payment, so I decided to do it. When I went in to refinance after the 6th payment I was told that I had to put down 1/3 of the balance to principal!!! I said, "That is not what I was told and there is nothing in my contract that states that." I have also learned that this is not a simple interest loan. It is computed so they add the interest onto the principal, and almost nothing from my payments is going to the principal. I have been paying since last year and my balance is only $100 less.

Inaccurate payment deductions or payments

Other complaints about Check 'n Go include inaccurate payment deductions or payments deducted on dates other than expected:

Check 'n Go drafted my payment before the due date. They acknowledged the error but cannot explain how and when they will refund my overdraft fees as well as one day's interest. What is annoying about the situation is they could care less.

Spoke with an associate on 07/16/15 to set up payment of $179 on the 31st of July. Payment was set up and agreed upon. To my surprise on the 17th of July some sort of electronic check was posted to my account in the amount of $307 dated for the 16th the day I spoke with them seriously making my account overdrawn. I called them and was treated very rudely and told that they did not know that transaction was set to post. Do not deal with this company. I had to close my checking account and open a new one to prevent this and I will now pay via money order.

I called Check 'n Go as I do each month to make my on-time payment. So once the payment was made I asked the girl what was my payoff amount and she told me that she could give me the amount as of today because even if you pay on time interest is added daily not monthly, but daily. This is highway robbery for people that's already having a hard time.

Dings to their credit score and long waiting times left some customers frustrated

Still others are dissatisfied with the company on a whole:

I could understand why they would check my credit if I was seeking an installment loan, but in the last year and a half, I've only relied on Check 'n Go for payday loans. When checking my credit records today I discovered that Check 'n Go, or Axcess Financial Services, has performed a hard check on my credit every time I've turned to them for a payday loan. This translates to a ding on my credit and makes me look like I'm desperate for credit. This is simply unacceptable and I will no longer rely on them for this particular service.

I visited Check N' Go located on Magnolia and Banbury Drive and I waited there for 40 minutes. I came to get a loan and there was someone ahead with of me. I understood waiting for him. But then when it was my turn the employee started multitasking trying to help me and other people. This made my wait even longer. Instead of just taking care of me and getting me out of there, everyone who came after me was leaving before me. I was so upset.

I went into the store and asked about applying online and they said that people are usually approved by 11 am the next morning. When I looked online, the website stated that if I applied by 7 p.m. EST I would be verified the next business day. I applied on Wednesday at 5 p.m. EST. I checked on Thursday morning and my application was still pending verification. I called later that day at 5 p.m. and the rep tells me that it usually takes 24-48 hours to verify the online app. So I waited until Friday morning around 12 p.m. EST and my app was still pending. I called customer service again and this time they tell me it takes 24-48 business hours to approve an app. That means it takes 3 to 6 business days. I received three different answers by three different people at the same company. Not to mention that the website clearly states that your application would be verified by the next business day. If you are looking for quick cash, do not look here. Apply in the store for a quick approval.

FAQs about Check 'n Go

How long does it take to deposit money through Check 'n Go?

If your application is approved by 8:00 p.m. EST, your approved amountshould be deposited the next business day.

On its website, Check 'n Go described the wait time to get an installment loan deposit:

If we are able to verify your information and originate your loan before 8:00 p.m. EST, you will be scheduled to receive your funds the following banking business day. Check 'n Go cannot process loans on days when banks are closed. If you apply late in the day before a banking holiday, or on a banking holiday, the loan will be originated the next business day, and you can expect to receive your funds on the second business day after applying. For payday loans and cash advances, it can be as soon as the next day if not instantly.

What are the requirements for Check 'n Go installment loans?

To qualify for an installment loan, you'll need:

  • A verifiable form of income. This can include your most recent pay stub, SSI award letter, or retirement benefits (including pension and alimony). Check 'n Go does not accept beneficiary income.
  • An active checking account that allows direct deposit.

The website says they check your credit and require that applicants have a minimum FICO score in most cases.

How does the payment plan/payment arrangement with Check 'n Go work?

Installment loans:

  • Electronic payments are due on your payday.
  • Payment schedules go according to the contract.

Payday loans:

  • The company says it will withdraw repayment funds from a borrower's account at an agreed upon date or the post-dated check will be deposited.
  • Borrowers also can return the cash directly to the store.

What are the interest rates related to the services offered by Check 'n Go?

No matter the term length, there is a fixed finance charge on every cash advance or payday loan provided by Check 'n Go. However, the equivalent Annual Percentage Rates (APR) do vary by state.

For example, a $500 payday loan in Utah will have a $125 finance charge, regardless of when it is repaid. If the payday loan is repaid within 6 days, the APR rate would be 1,520.83%; if it is repaid within 32 days, then the APR would 285.16%.

Reference the Check 'n Go website for the most current information.

How much does Check 'n Go charge for check cashing?

The company says it charges a small fee for check cashing. Although they do not disclose these fees online, BankRate.com claims Check 'n Go charges up to 3% of the amount of the check.

What happens when you default on a Check 'n Go loan?

Payday loans:

Installment loans:

  • After 30 days without a payment, the remaining balance will default, interest will stop accruing, and the entire balance will be sent to collections.

What are the requirements to get a loan from Check 'n Go?

It depends on the type of loan. You likely need a form of identification (such as a driver's license or Social Security card), information about your bank account (such as account number and routing number), and proof of income (such as a paycheck stub).

How much money can you borrow from Check 'n Go?

The company says this depends on a borrower's income and geographical location.

Does Check 'n Go call your employer?

Check 'n Go does not call a borrower's employer but does look for verification of income through paystubs.

Can you cash personal checks at Check 'n Go?

According to Yahoo! Answers, Check 'n Go will cash personal checks with extra verifications and require the borrower pay a large percent of the amount of the check.

Do I need to be employed to get a payday loan?

Yes, as some Check 'n Go financial products require you to show a pay stub.

Is Check 'n Go the right choice for you?

For most consumers who needed money in a pinch and did not want to go through a rigorous qualifications process, Check 'n Go is able to deliver. And, since Check 'n Go adheres to the Truth in Lending Act, they are required to disclose the cost of credit, which includes the finance charge and the annual percentage rate (APR), so you will be able to determine if borrowing the money you need is a good decision for you.

Few things are for free in life. Companies that promise fast cash for little down, should be used with excessive caution. Check 'n Go is no different. Before pursuing a loan from Check 'n Go or other companies like it, resources such as the Federal Trade Commission advise you try to find an alternative solution or limit the amount you borrow.

The Pros & Cons of Check 'n Go

Now that you're almost ready to make a decision about Check 'n Go, here is a quick pros & cons recap:

Pros:

  • Quick access to hard-cold cash
  • Money when banks won't lend it to you
  • Member of Community Financial Services Association (CFSA)

Cons:

  • High-interest rates
  • Despite relaying all details, many customers report feeling confused or mislead
  • Plenty of negative online reviews
  • Sometimes slow to process online applications
  • Poor customer service
  • Unclear operating hours

Upon asking questions and reading your loan agreement completely—and then determining whether you can realistically pay back the loan on time—you may be able to gain a clearer picture of whether or not Check 'n Go is the right choice to solve your financial needs.

If you need money in a pinch, this company does have a positive track record of helping people acquire funds quickly. They also offer a wide range of options for getting money, whether it involves taking out a loan until you get your next check from work, or being able to cash a check when you don't have enough money in your bank account to cover that amount.

Though the interest rates are high and some consumers complained about the service, Check 'n Go is an established company that provides payday loans, installment loans, cash advances, check-cashing, and prepaid credit cards. There are pros and cons to using this service, so customers will need to be vigilant and acquire a wide range of information to determine whether Check 'n Go is right for them.

Have you used Check 'n Go? How was your experience with the company?


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